Global Smart Warehouses Market Overview:
Warehousing is considered as the key part in supply chain management through its determination and ability to establish smooth and efficient logistic operations in organizations. It plays a vital role in determining a company's competitiveness as logistic costs are considered an important part of the overall production costs. The lack of communication in regards to inventory, difficulty customizing management practices, and predicting lead time are the major limitations of traditional warehouse. These limitations are overcome by smart warehousing. A smart warehouse is the culmination of warehouse automation. These warehouses integrates several automated and interconnected technologies to implement smart warehouse management system. These warehouses automate almost the entire operation, from suppliers to customers, with minimal errors. The growing shift of industries towards the adoption of smart warehouse is boosting the market growth. The International Federation of Robotics (IFR) estimates that in 2017, there were around approx. 2.1 million stand-alone industrial robots installed worldwide, with a shipment of approx. 381,000 units globally.
Growth Drivers
- Integration of Cloud Computing in Smart Warehouse
- Demand for Distributed and Decentralized Database
- Increasing Use of Voice Recognition Technology (VRT) for Automatic Identification
Roadblocks
- High Initial Costs Prevent Many Companies from Implementing Smart Warehouse
Opportunities
- Growing Use of Blockchain to Improve the Processes in Smart Warehouse
- Increasing Adoption of Digitization in Supply Chain Management
- Better Collaboration Between Stores, E-Commerce And Order Fulfillment
Challenges
- Breakdowns Can Be Very Costly In Terms Of Repair Costs and Downtime
Competitive Landscape:
Some of the key players profiled in the report are KION (Germany), Dematic (United States), Honeywell Intelligrated (United States), SSI Schaefer (United States), Daifuku (Japan), Knapp (Austria), Toyota Industries (Japan), TGW (United Kingdom), Material Handling Systems (United States), Witron (Germany), Swisslog Logistics Automation (Switzerland) and Murata Machinery (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global Smart Warehouses market by 2026. Considering Market by Components, the sub-segment i.e. Radio-Frequency Identification (RFID) will boost the Smart Warehouses market. Considering Market by Warehouse Type, the sub-segment i.e. Private will boost the Smart Warehouses market. Considering Market by Industry Vertical, the sub-segment i.e. Automotive will boost the Smart Warehouses market. Considering Market by Deployment , the sub-segment i.e. On-premises will boost the Smart Warehouses market. Considering Market by Offering, the sub-segment i.e. Software will boost the Smart Warehouses market. Considering Market by System, the sub-segment i.e. Automated Guided Vehicles (Automated Guided forklift, Automated Guided Carts, Tugger AGVs) will boost the Smart Warehouses market.
What Can be Explored with the Smart Warehouses Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Warehouses Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Warehouses
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Warehouses market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Warehouses market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.